A new partnership between CoinCorner, a Bitcoin and Lightning service provider, and Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, aims to bring Bitcoin services to the United Arab Emirates (UAE) as well as throughout the Middle East in order to improve Bitcoin and Lightning services.
Seed Group, a company that helps businesses expand their operations to the UAE as well as the Middle East, aims to assist CoinCorner in reaching the right audience, gain access to top decision-makers in the government as well as private sectors, and market their Bitcoin products and services effectively in the region.
CoinCorner will focus their efforts on delivering a platform for UAE residents to buy, sell, send, receive, and store Bitcoin. The company also aims to offer local businesses various solutions to transact in Bitcoin.
Hisham Al Gurg, CEO of Seed Group, stated that not only are individuals ready to embrace Bitcoin as a legal tender but a large number of companies are as well.
Al Gurg also noted:
“The UAE wants to offer a growth-oriented environment to fintech companies by establishing an ecosystem for digital currencies. Companies dealing in cryptocurrencies hold huge potential in the Emirates’ digital economy.”
This is in line with a recent study done by Forex, where the UAE is ranked amongst the top four countries in the world primed for Bitcoin adoption. This is mostly due to the fact that this market has grown by more than 1,500% during 2020 to 2021, while the transaction volume in the UAE is about $26 billion.
Danny Scott, CEO and co-founder of CoinCorner, is optimistic about the company’s partnership with Seed Group and sees it as mutually beneficial. The partnership will help CoinCorner with expanding the company’s operations into the MENA region to create a strong base of regional connections.
Scott elaborated by saying:
“We are committed to making Bitcoin transactions the ‘new normal’ in the UAE with the help of our unique solutions, facilitating instant and frictionless payments.”